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Foreign Exchange

Sending or Receiving Money Overseas

world icon Telegraphic Transfers

A telegraphic transfer (also known as a 'wire' or 'TT') is an electronic transfer of funds directly credited to a beneficiary's overseas bank account.

  • Payments normally received within 3-5 business days
  • Payments in more than 130 currencies to 200 countries and territories
  • Sending a Telegraphic Transfer in the beneficiary’s currency is usually more cost effective and helps ensure the funds are credited more quickly

What do I need to know to send a Telegraphic Transfer?

  • You will need to provide your local branch full details of the beneficiary's bank address & bank account, including their IBAN (International Bank Account Number) if they are in Europe.
  • To comply with Australian Government regulations you must also provide the beneficiary's full street address.
  • If you can’t make it into a branch, or need to send money overseas on the fly, you can easily register with your local branch to make an International Telegraphic Transfer (TT) using our online banking service via your computer or laptop.
    Once registered to send TTs, simply log on to your online banking account, go to the Transfer tab and select Telegraphic Transfers. The country specific information and ‘help text’ will guide you through your transfer from start to finish. Please note, the amount you are currently able to transfer via Online Banking is AUD $1000
  • Please note that TT’s are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees are out of Northern Inland's and Western Union Business Solutions control. Given that a network of banks is used to complete your telegraphic transfer, the time it takes for your payment to be credited cannot be guaranteed.

What do I need to know to receive a Telegraphic Transfer?

  • To receive funds from someone overseas, you will need to quote the following to them:
Beneficiary Bank:

Cuscal Limited, 1 Margaret Street, SYDNEY NSW 2000 AUSTRALIA

Cuscal Limited SWIFT Code: CUSCAU2SXXX
Domestic Bank/Branch identifier (BSB):  802-298
Credit Union Name: Northern Inland Credit Union
Beneficiary Account Number: Your Membership account number
Beneficiary Name: Your Membership account name

Intermediary Bank SWIFT Code*:


Processing charges will be debited off the received amount going to your account; please refer to the Fees & Charges product fact sheet.

* the Intermediary Bank Swift Code is used if the foreign bank does not have a relationship with an Australian Bank or cannot convert the monies to Australian dollars prior to sending it.

cheques Drafts (international bank cheque)

A Draft is like a bank cheque made out in a foreign currency. It’s another way for you to make payments and settle a transaction overseas, especially if you don’t have the receiver’s electronic bank account details. Drafts can be sent overseas via mail and are available in a wide range of currencies

  • Affordable way to send money overseas for any occasion (such as a birthday or Christmas gift)
  • The recipient of the draft can bank straight into their own account.
  • A good option  if you don't have the beneficiary's bank account details
  • Should your Draft go missing in transit, upon your notification, Western Union Business Solutions will normally be able to put a stop on it and issue a replacement. Conditions apply – read the Drafts Product Disclosure Statement

Receiving money via Foreign Cheque

If you have received a Draft / Cheque in a foreign currency, Northern Inland, in association with Western Union Business Solutions will usually be able to convert it into Australian Dollars for credit to your account.

Typically, personal, bank, company or government foreign currency cheques can be converted (although money orders are not accepted). However, please note that some conditions do apply. Speak to a branch staff member for further information.

Cheques can be converted from a range of foreign currencies.

Taking Money Overseas

money Foreign Cash

It is always a good idea to have some local currency on you when travelling to pay for small things such as taxis, snacks or internet use.

  • Pre-order your foreign cash through us - pick up normally available within 2 business days
  • Be prepared with local currency when you arrive
  • A range of over 30 currencies are available

cards Multi-currency Cash Passport Card

A great way to carry many currencies when you need more than just loose change. See our Multi-currency Cash Passport Card page for more information.


To apply for any of our travel products or if you have any questions, please contact us


The financial products referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404092, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with Northern Inland Credit Union. Fees & Charges and Terms & Conditions apply.
It's important for you to consider the relevant Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not a financial product is right for you. A PDS is available for each financial product issued by WUBS from Northern Inland. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.
Please note that TT’s are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees that are deducted from the beneficiary amount, are out of our control.
This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. The relationship relating to the financial products referred to in this communication are solely between you and the Financial Institution. No representations, warranties or conditions of any kind, express or implied, are made in this communication.
Western Union Business Solutions is an operating division of the Western Union Company. Western Union is the issuer of the financial products referred to in this communication.
Western Union Business Solutions is the provider of Telegraphic Transfers, Drafts and Foreign Currency Cheques Conversion. Disclosure documents are available for the Drafts products or can be obtained by contacting NICU on 1300 65 65 81. Travelex Limited (ABN 36 004 179 953, AFSL 222 444) is the supplier of foreign cash. Fees & Charges and Terms & Conditions apply.


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